[Z06] Resale Question
Thread Starter
Drifting
Joined: May 2013
Posts: 1,972
Likes: 1,098
From: Texas Hill Country Texas
Resale Question
I currently have a 2004 MY/Mod Red Z06 that is still under GMPP warranty until 11/13. I will be getting a C7 sometime in the near future....perhaps next spring/summer.
Here is my question: Would selling now, or well before 11/13, make a significant difference in resale price with the warranty still valid?
OBTW, it's a 15K blemish free all stock car. Thoughts?
Here is my question: Would selling now, or well before 11/13, make a significant difference in resale price with the warranty still valid?
OBTW, it's a 15K blemish free all stock car. Thoughts?
Intermediate
Joined: May 2013
Posts: 27
Likes: 0
First, how long can you live without the Corvette? I don't think depreciation will be significant and do not believe there will be much of a price change correlation between C5Z and release of the new Vette. The C5Z is at a pricepoint that may not change over the next few years because it has many great attributes...power, nice-looking, fun-factor, and can still perform at the track. It will always be desirable to many, not all.
There could be some impact once C7 drivers start posting #s...could make the value change based on bang-for-the-buck. In other words, if performance #s are close...some may opt for the C5Z or C6Z which willsustain current prices. Just my $.02.
If you want a C7 when they are initially released, price will be a premium. If you will need the money for a down payment and are not a patient type, you may try to sell in advance so that you can be prepared for your purchase.
There could be some impact once C7 drivers start posting #s...could make the value change based on bang-for-the-buck. In other words, if performance #s are close...some may opt for the C5Z or C6Z which willsustain current prices. Just my $.02.
If you want a C7 when they are initially released, price will be a premium. If you will need the money for a down payment and are not a patient type, you may try to sell in advance so that you can be prepared for your purchase.
Last edited by dozlert; Jun 1, 2013 at 10:17 AM.
Drifting
Joined: Jun 2010
Posts: 1,434
Likes: 2
From: Harrisburg Pa.
First, how long can you live without the Corvette? I don't think depreciation will be significant and do not believe there will be much of a price change correlation between C5Z and release of the new Vette. The C5Z is at a pricepoint that may not change over the next few years because it has many great attributes...power, nice-looking, fun-factor, and can still perform at the track. It will always be desirable to many, not all.
There could be some impact once C7 drivers start posting #s...could make the value change based on bang-for-the-buck. In other words, if performance #s are close...some may opt for the C5Z or C6Z which willsustain current prices. Just my $.02.
If you want a C7 when they are initially released, price will be a premium. If you will need the money for a down payment and are not a patient type, you may try to sell in advance so that you can be prepared for your purchase.
There could be some impact once C7 drivers start posting #s...could make the value change based on bang-for-the-buck. In other words, if performance #s are close...some may opt for the C5Z or C6Z which willsustain current prices. Just my $.02.
If you want a C7 when they are initially released, price will be a premium. If you will need the money for a down payment and are not a patient type, you may try to sell in advance so that you can be prepared for your purchase.
Intermediate
Joined: May 2013
Posts: 27
Likes: 0
Let me break my response down for those that have difficulty understanding. 
Question: Would selling now, or well before 11/13, make a significant difference in resale price with the warranty still valid?
Answer: No
Question 2: Thoughts?
Answer: I don't think depreciation will be significant and do not believe there will be much of a price change correlation between C5Z and release of the new Vette. The C5Z is at a pricepoint that may not change over the next few years because it has many great attributes...power, nice-looking, fun-factor, and can still perform at the track. It will always be desirable to many, not all.
There could be some impact once C7 drivers start posting #s...could make the value change based on bang-for-the-buck. In other words, if performance #s are close...some may opt for the C5Z or C6Z which willsustain current prices. Just my $.02.
If you want a C7 when they are initially released, price will be a premium. If you will need the money for a down payment and are not a patient type, you may try to sell in advance so that you can be prepared for your purchase.
Question: Would selling now, or well before 11/13, make a significant difference in resale price with the warranty still valid?
Answer: No
Question 2: Thoughts?
Answer: I don't think depreciation will be significant and do not believe there will be much of a price change correlation between C5Z and release of the new Vette. The C5Z is at a pricepoint that may not change over the next few years because it has many great attributes...power, nice-looking, fun-factor, and can still perform at the track. It will always be desirable to many, not all.
There could be some impact once C7 drivers start posting #s...could make the value change based on bang-for-the-buck. In other words, if performance #s are close...some may opt for the C5Z or C6Z which willsustain current prices. Just my $.02.
If you want a C7 when they are initially released, price will be a premium. If you will need the money for a down payment and are not a patient type, you may try to sell in advance so that you can be prepared for your purchase.
Race Director
Joined: Jan 2008
Posts: 16,028
Likes: 170
From: oregon
in short. i don't think the c5z will be impacted at all.
the only ones that may be are the ultra low mile cars that sell in the 25-30k range and those only will be impacted IF the c6 GS and z06 happen to fall from the c7
totally different buyers looking at mid 20s cars than c7s
as for the warranty issue? beings you only have a few months left i doubt it's going to make any meaningful impact. personally speaking, if i was looking at a car like that i wouldn't care about the warranty. i would be more concerned with how the car was driven and cared for and what kind of deal i could get
the only ones that may be are the ultra low mile cars that sell in the 25-30k range and those only will be impacted IF the c6 GS and z06 happen to fall from the c7
totally different buyers looking at mid 20s cars than c7s
as for the warranty issue? beings you only have a few months left i doubt it's going to make any meaningful impact. personally speaking, if i was looking at a car like that i wouldn't care about the warranty. i would be more concerned with how the car was driven and cared for and what kind of deal i could get
Thread Starter
Drifting
Joined: May 2013
Posts: 1,972
Likes: 1,098
From: Texas Hill Country Texas
Thanks for the responses...as I imagined, current GM warranty would make little difference in resale price. Good news for me as I'll hold my C5Z until I'm ready to pull the C7 trigger. Thanks again.
Burning Brakes
Joined: Mar 2013
Posts: 1,131
Likes: 5
From: Illinois/Wisconsin Line
I disagree. I think the Warranty makes a great selling point and if ur gone-a sell do while its still within its factory warranty. I think u can buy/pay to extend it while its still within warranty and extended aftermarket warranties ( The Good ones by GM) can be had I think to the new owner cheeper while while its within the factory protection
The GM Warranites are Great and are not that much and I think you can go up to a 100,000 miles For a Powertrain even with 1 mishap a short or long block or a trans being covered is nice even A/C's small oil leaks You can transfer the warranty from u to the new owner for a 50 dollar fee too
The GM Warranites are Great and are not that much and I think you can go up to a 100,000 miles For a Powertrain even with 1 mishap a short or long block or a trans being covered is nice even A/C's small oil leaks You can transfer the warranty from u to the new owner for a 50 dollar fee too
Last edited by cudamax; Jun 1, 2013 at 08:22 PM.
Race Director
Joined: Jan 2008
Posts: 16,028
Likes: 170
From: oregon
I disagree. I think the Warranty makes a great selling point and if ur gone-a sell do while its still within its factory warranty. I think u can buy/pay to extend it while its still within warranty and extended aftermarket warranties ( The Good ones by GM) can be had I think to the new owner cheeper while while its within the factory protection
The GM Warranites are Great and are not that much and I think you can go up to a 100,000 miles For a Powertrain even with 1 mishap a short or long block or a trans being covered is nice even A/C's small oil leaks You can transfer the warranty from u to the new owner for a 50 dollar fee too
The GM Warranites are Great and are not that much and I think you can go up to a 100,000 miles For a Powertrain even with 1 mishap a short or long block or a trans being covered is nice even A/C's small oil leaks You can transfer the warranty from u to the new owner for a 50 dollar fee too
but how much $$ would you place on a couple of months?
that's all i was getting at
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Burning Brakes
Joined: Mar 2013
Posts: 1,131
Likes: 5
From: Illinois/Wisconsin Line
Well it would be worth a lot to me and If it came down to one with or without Id take the one with the warranty and then pay the 50 dollar transfer fee then upgrade it to a 2000 dollar 100,000 mile extended warranty.
Or he could extend it himself to a cheeper basic powertrain only 100,000 thou or a 70,000 warranty that would be transferable to a new owner and then Ask more. alot more for the car
Or he could extend it himself to a cheeper basic powertrain only 100,000 thou or a 70,000 warranty that would be transferable to a new owner and then Ask more. alot more for the car
Thread Starter
Drifting
Joined: May 2013
Posts: 1,972
Likes: 1,098
From: Texas Hill Country Texas
Thanks again for the discussion and replies. Just to be clear, the current warranty is GMPP and expires in Nov of this year. The car was purchased in Mar 2004. In Jan 2007, I purchased an additional 48 months of GM protection as the original 3/36 was nearing expiration. Finally, in Nov 2010 I was able to renew for a final 36 months. I was told that this would be as far as GM could take the car --- I was at the end of the warranty extension tables. I'm not interested in buying a 3rd party warranty when GM expires...that option would be there for the new owner if they desire it.
Not asking to discuss "market" conditions in general such as continued depreciation or C7 impact...just asking what folks would pay to have that assurance of having a car, albeit for just a matter of months, still under GM warranty. I sense it would be a bonus....but probably not a big $ difference.
Not asking to discuss "market" conditions in general such as continued depreciation or C7 impact...just asking what folks would pay to have that assurance of having a car, albeit for just a matter of months, still under GM warranty. I sense it would be a bonus....but probably not a big $ difference.
Instructor
Joined: Jan 2013
Posts: 113
Likes: 0
From: Round Rock Texas
Thanks again for the discussion and replies. Just to be clear, the current warranty is GMPP and expires in Nov of this year. The car was purchased in Mar 2004. In Jan 2007, I purchased an additional 48 months of GM protection as the original 3/36 was nearing expiration. Finally, in Nov 2010 I was able to renew for a final 36 months. I was told that this would be as far as GM could take the car --- I was at the end of the warranty extension tables. I'm not interested in buying a 3rd party warranty when GM expires...that option would be there for the new owner if they desire it.
Not asking to discuss "market" conditions in general such as continued depreciation or C7 impact...just asking what folks would pay to have that assurance of having a car, albeit for just a matter of months, still under GM warranty. I sense it would be a bonus....but probably not a big $ difference.
Not asking to discuss "market" conditions in general such as continued depreciation or C7 impact...just asking what folks would pay to have that assurance of having a car, albeit for just a matter of months, still under GM warranty. I sense it would be a bonus....but probably not a big $ difference.
Thread Starter
Drifting
Joined: May 2013
Posts: 1,972
Likes: 1,098
From: Texas Hill Country Texas
I was just in the market for a pristine, low mile Z06. If yours had been on the market when I'd bought mine, I honestly wouldn't have factored in 6 months of warranty. If I did, it would only have considered maybe $200 or so of additional value, if any, as the expiration is so close. That's just me...
Instructor
Joined: Jan 2013
Posts: 113
Likes: 0
From: Round Rock Texas
I purchased an 04 Commemorative Edition Z06. It had under 20K miles and headers and intake plus a few other goodies. Yellow is my favorite color! I wish I'd have known you were selling. I don't regret mine one bit, though. 
I just spent the afternoon on 1431 out to almost marble falls, then came back on cow creek road. Car had been detailed. Filthy again...
Sent you a PM but let me add part of that publicly here: Prices for the Z this past winter were in the low 20s. One MY 02 original owner sold for $22K here with 31K on the clock and a high-end custom stereo. This summer, prices have gone up about 2500 it seems over the low point in the winter. This coming winter, prices will likely slip back down a little and you'll also have possible pressure from people making the jump to a C7 and needing to dump their current vehicle. If supply creeps up, prices, of course, will come down. I think you are going to get the best price you will ever see if you can sell it to the right buyer this summer...
I just spent the afternoon on 1431 out to almost marble falls, then came back on cow creek road. Car had been detailed. Filthy again...
Sent you a PM but let me add part of that publicly here: Prices for the Z this past winter were in the low 20s. One MY 02 original owner sold for $22K here with 31K on the clock and a high-end custom stereo. This summer, prices have gone up about 2500 it seems over the low point in the winter. This coming winter, prices will likely slip back down a little and you'll also have possible pressure from people making the jump to a C7 and needing to dump their current vehicle. If supply creeps up, prices, of course, will come down. I think you are going to get the best price you will ever see if you can sell it to the right buyer this summer...
Last edited by K-n; Jun 2, 2013 at 09:52 PM.
Race Director
Joined: Sep 2006
Posts: 11,206
Likes: 1,139
From: Santa Rosa Beach FL
I think you should sell the McD Z to me, now that Summer 2014 is over and winter is tuning up. And the new Z06 has arrived on the showroom floor....and because my M-B sold yesterday...and because your warranty is no longer an issue.
Thread Starter
Drifting
Joined: May 2013
Posts: 1,972
Likes: 1,098
From: Texas Hill Country Texas
Race Director
Joined: Sep 2006
Posts: 11,206
Likes: 1,139
From: Santa Rosa Beach FL
Remembered...
http://forums.corvetteforum.com/show....php?t=3277420
http://forums.corvetteforum.com/show....php?t=3572268 
:
http://forums.corvetteforum.com/show....php?t=3277420
http://forums.corvetteforum.com/show....php?t=3572268 :
Last edited by cor28vettes; Dec 9, 2014 at 11:10 PM.